Ayala Land now has high-end luxury resorts under its portfolio. With the recent Acquisition of a 60% stake in Ten Knots Development Corp., Ayala becomes the majority of the popular El Nido Resorts Miniloc Island and El Nido Resorts Lagen Island. This acquisition will definitely boost Ayala's tourism related businesses.
Ayala Land is one of the country's most respected real estate developers. It owns popular shopping malls like Glorietta, Greenbelt, and Trinoma. Its high end residential projects include Serendra, One Roxas Triangle, Greenbelt Residences. It is also into urban Development with Bonifacio Global City and Nuvali.
Ten Knots Development Corporation was a former subsidiary of Anscor (A. Soriano Corp.) which is majority controlled by Andres Soriano III. He was the former chairman of San Miguel Corporation. It was later bought by the former Energy Secretary, Vicente Perez.
With the acquisition, we can expect the continued growth and maintenance of the resorts and nearby surroundings. This will also pave the way for more green developments for Ayala Land. Plans are already under way to open another resort in a nearby island.
Photo Credits to Eric.
